Keyword
Claims
Manitoba Public Insurance seeks 2% basic auto rate increase after “unprecedented” claims payouts
June 17, 2016 by Canadian UnderwriterManitoba Public Insurance (MPI) said on Friday that it has asked the Public Utilities Board for a 2% increase to Basic Autopac rates, citing an “unprecedented” year for comprehensive (non-collision) claims payouts. Basic Autopac is an all-perils coverage that insures…
Customer satisfaction with homeowners insurance improves in eastern Canada, lower satisfaction in western provinces: J.D. Power study
June 6, 2016 by Canadian UnderwriterCustomer satisfaction with homeowners insurance in eastern Canada is improving, while catastrophic events contribute to lower satisfaction in the western provinces, according to the J.D. Power 2016 Canadian Home Insurance Study, released on Monday. The annual study examined customer satisfaction…
Big cleanup job underway at downtown Fort McMurray brew pub
June 5, 2016 By Lauren Krugel – THE CANADIAN PRESSFORT MCMURRAY, Alta. – On May 3, patrons at the Wood Buffalo Brewing Company on downtown Fort McMurray’s main drag had to leave their pints and plates on the table as a massive forest fire breached the city and everyone…
The Digital Edition of Canadian Underwriter magazine’s May 2016 issue
May 26, 2016 by Canadian UnderwriterDigital Edition below ↓ Cover Story – ‘Tired of Losses’ Distraction and driver fatigue are high on the radar screen for commercial auto insurers, and while drunkeness may not account for a significant percentage of losses, one insurance expert contends guidance…
Fort McMurray wildfire to cost The Co-operators an estimated $70 million to $90 million
May 24, 2016 by Canadian UnderwriterThe Co-operators General Insurance Company has estimated that the Fort McMurray wildfire will cost it between $70 million and $90 million. While access to the affected area remains restricted, The Co-operators’ preliminary estimate indicated that the after-tax cost of the…
Message from the President
May 18, 2016 Fred Plant, President, Canadian Independent Adjusters' AssociationOurs is a noble profession and you should be proud of the important work you do, every day – delivering the product of the Property & Casualty Insurance Industry in Canada. The Ontario Chapter of the Canadian Independent Adjusters’ Association…
Desjardins General Insurance Group posts net income of $31.5 million in 2016 Q1, less than half the amount in 2015 Q1
May 16, 2016 Net IncomeDespite an increase in direct premiums written, Desjardins General Insurance Group (DGIG) saw net income for the first quarter of 2016 drop to about $31.5 million compared to the prior-year quarter. At $31.5 million, net income for 2016 Q1 was…
B.C. agriculture ministry develops and distributes guide on hail coverage for Okanagan tree fruit growers
May 16, 2016 by Canadian UnderwriterBritish Columbia’s Ministry of Agriculture has developed and distributed a guide to help Okanagan tree fruit growers understand hail coverage and the claims process. Although Okanagan tree fruit growers have been experiencing ideal weather conditions this spring with reports that…
57th Annual Reception of the Quarter Century Club, May 13, 2016
May 13, 2016 by Canadian UnderwriterA solid turnout of 200+ industry representatives attended the 57th Annual Reception of the Quarter Century Club (QCC) on May 13 at the Albany Club in Toronto. The event was a roast for Brad Ebel, partner and president of MDD Forensic…
DBRS estimates Fort McMurray insurance claims at between $2 billion and $6 billion
May 13, 2016 by Canadian UnderwriterToronto-headquartered credit rating firm DBRS Limited has estimated that the total claim costs for the Fort McMurray wildfire will likely be in the range of $2 billion to $6 billion. DBRS said in a briefing on Friday that it is…
Ontario auto reforms should help cut transaction costs: Cameron
May 11, 2016 by Angela StelmakowichIf things unfold as intended, Ontario’s auto insurance reforms should help reduce transaction costs that have long been an issue for the entire system, James Cameron, president of Cameron & Associates, suggested during an industry event Tuesday. “The goal of…
Fort McMurray wildfire could hurt 2016 Q2 results for some Canadian p&c insurers, companies offering help
May 9, 2016 by Angela StelmakowichCredit rating agency Moody’s does not anticipate the massive wildfire in and around Fort McMurray will be a credit event for Canada’s property and casualty industry, but is likely to have an impact on 2016 Q2 results for property insurers.…